Consumer prices stagnating

Czech consumer prices stagnated in a year-on-year as well as month-on-month
comparison in June after rising by 0.4 percent annually in May, the Czech
Statistics Office said on Wednesday. The result was influenced mainly by a
drop in prices of food and non-alcoholic beverages. A drop in inflation
from 0.4 percent in May was generally expected, but a decrease all the way
to a zero level is a surprise, analyst Patrik Rožumberský of UniCredit
Bank told the ctk news agency. The board of the National Bank expects that
the growth of consumer prices will be near the bank’s 2 percent inflation
target for next year.